Monday, November 23, 2015

StartEngine, Elio Motors Get Nod On $25M Crowdfunding Effort

Los Angeles-based StartEngine, which got its start as a startup accelerator but is now focused on offering up a platform for companies to raise equity crowdfunding, said Friday that a $25M crowdfunding effort by Elio Motors has been qualified by the SEC using its platform. StartEngine said the qualification will allow Elio Motors to find inevstors from nonaccredited investors on StartEngine. StartEngine said Elio Motors is one of the first companies on StartEngine's platform to issue equity shares. StartEngine says it is focused on helping all people invest in private companies on a public platform, and to help entrepreneurs achieve their dreams. The company was founded in 2013 by Howard Marks and Ron Miller as a startup accelerator, but formally shifted its focus to crowdfunding earlier this summer.